{"id":598335,"date":"2019-05-22T03:49:16","date_gmt":"2019-05-22T03:49:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=598335"},"modified":"2025-12-16T20:23:34","modified_gmt":"2025-12-16T20:23:34","slug":"proposed-banking-act-will-impose-industry-development-fee-new-capital-requirements-report","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/proposed-banking-act-will-impose-industry-development-fee-new-capital-requirements-report\/","title":{"rendered":"Proposed Banking Act will impose industry development fee, new capital requirements -Report"},"content":{"rendered":"<section id=\"598337\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598337\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What We're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/what-were-tracking-on-22-may-2019\/\">\r\n                            What we\u2019re tracking on 22 May 2019                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/what-were-tracking-on-22-may-2019\/\" target=\"_blank\">\n                    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tag-central-bank-of-egypt tag-china tag-enterpriseam tag-interest-rates tag-monetary-policy tag-trade tag-us-federal-reserve tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><b>It\u2019s a big day as we prepare to slide into the weekend<\/b>, with blockbuster news for the banking industry, confirmation that electricity price hikes will be (slightly) more modest than some had expected, a quiet fintech M&amp;A, and word the government is looking to possibly float infrastructure bonds.<\/p><p><b>What\u2019s more: The notion of a new (tech?) \u201ccold war\u201d between the US and China has caught fire<\/b> in the global business press.<\/p><p class=\"web-image\"><a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2019-05-20\/huawei-supply-freeze-points-to-u-s-china-tech-cold-war\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/2309.jpg?ssl=1\"><\/a><\/p><p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <b>Need convincing that business thinks we\u2019re in the early days of a New Cold War between the world\u2019s two superpowers? <\/b>Look no further than CNBC\u2019s homepage this morning (above) \u2014 it\u2019s one of the best barometers for what\u2019s bedeviling Wall Street at any given moment. The emerging narrative is that the Washington-Beijing clash over trade and technology are actually fronts in a new cold war.<\/p><p><b>ESSENTIAL READING <\/b>on the subject:<\/p><ul>\n<li><b>The beginning: <\/b>Most folks are linking to \u201c<a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2019-05-20\/huawei-supply-freeze-points-to-u-s-china-tech-cold-war\">The Tech Cold War has begun<\/a>\u201d in Bloomberg Opinion this week as the origin of the notion, but a better starting point is <a href=\"https:\/\/www.nytimes.com\/2018\/03\/23\/technology\/trump-china-tariffs-tech-cold-war.html?module=inline\">this piece in the New York Times<\/a>, which we picked up in spring of 2018.<\/li>\n<li><b>Nouriel \u201cDr. Doom\u201d Roubini sees prolonged trade conflict between the US and China triggering a process of de-globalization <\/b>as it divides the world into two competing blocks. A \u201cfull-scale cold war will ensue [if the two sides don\u2019t manage for the long term] and a hot one (or a series of proxy wars) cannot be ruled out,\u201d he writes for <a href=\"https:\/\/www.theguardian.com\/business\/2019\/may\/20\/us-china-trade-war-donald-trump-xi-jinping\">the Guardian<\/a>.<\/li>\n<li><b>America\u2019s allies need to start contingency planning<\/b>, suggests Martin Wolf in <a href=\"https:\/\/www.ft.com\/content\/870c895c-7b11-11e9-81d2-f785092ab560\">the Financial Times<\/a>, pointing out that while the US and China account for around 30% of world imports, that means 70% of the global market is where other nations should be looking.<\/li>\n<li><b>This isn\u2019t new: <\/b>The new \u201cIron Curtain\u201d in the Tech Cold War has been a long time in the making, Li Yuan argues in the <a href=\"https:\/\/www.nytimes.com\/2019\/05\/20\/business\/huawei-trump-china-trade.html\">New York Times<\/a>.<\/li>\n<li><b>We\u2019re all going to suffer: <\/b>The escalation of the trade war could wipe out USD 600 bn from the world\u2019s economy, the OECD warns. (<a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/trump-trade-war-escalation-wipe-600-billion-world-economy-oecd-2019-5-1028219358\">Business Insider<\/a>) (We have more in this morning\u2019s Macro Picture, below.)<\/li>\n<\/ul><p><b>Markets can\u2019t rely on the Fed to pick up the pieces:<\/b> Market complacency about the escalating trade fight between the US and China is unnerving JPMorgan\u2019s chief EMEA strategist Karen Ward, <a href=\"https:\/\/www.ft.com\/content\/5563cb48-7adc-11e9-81d2-f785092ab560\">who warns in the Financial Times<\/a> that <b>the Federal Reserve will not be able to support growth if China intensifies its trade restrictions<\/b>. \u201cIf the Fed were to keep pumping demand while political risks are discouraging investment, the result will be unbearable pressure on the labor market and further upward pressure on wages. US corporate profit margins, a huge contributor to the growth in US earnings, will come under pressure,\u201d she writes.<\/p><p><b>Is there any non-China, non-US news out there? <\/b>Not really. The only headline of consequence in the global business press outside of the US-China \u2018cold war\u2019 is news that the UK may be heading for a second referendum on Brexit. (<a href=\"https:\/\/www.ft.com\/content\/6ef8bcec-7bc4-11e9-81d2-f785092ab560\">Financial Times<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/us-britain-eu-may-referendum\/may-to-ask-lawmakers-to-vote-on-a-second-brexit-referendum-idUSKCN1SR1U8\">Reuters<\/a>)<\/p><hr class=\"grey-line\"><p><b>Closer to home: It\u2019s interest rate day tomorrow:<\/b> The central bank\u2019s Monetary Policy Committee will meet tomorrow to review key interest rates. Our <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/19\/enterprise-poll-central-bank-of-egypt-to-maintain-rates-despite-drop-in-april-inflation\/\">poll showed on Sunday<\/a> a consensus among 12 economists that the CBE will leave rates on hold. Meanwhile, three of the 14 economists <a href=\"https:\/\/af.reuters.com\/article\/investingNews\/idAFKCN1SR0M6-OZABS\">polled by Reuters<\/a> yesterday predicted the bank would move to cut rates by 50-100 bps. The MPC <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps-in-first-mpc-meeting-in-2019\/\">cut the overnight deposit and lending rates<\/a> by 100 bps to 15.75% and 16.75% in February.<\/p><p><b>Dates to pencil into your diaries:<\/b><\/p><ul>\n<li><b>AmCham will hold its annual general meeting and iftar on Tuesday, 28 May,<\/b> with US Charge d\u2019Affaires Thomas Goldberger delivering a speech on the US\u2019 relationship with Egypt. AmCham members can register for the event <a href=\"https:\/\/www.amcham.org.eg\/events-activities\/events\">here<\/a>.<\/li>\n<li><b>The Saudis are in town next month to talk real estate investment: <\/b>The Egyptian Businessmen\u2019s Association will be hosting <a href=\"https:\/\/www.alborsaanews.com\/2019\/05\/21\/1206311\">next month<\/a> 20 Saudi-based real estate development companies exploring investment prospects.<\/li>\n<li><b>The UAE and Saudi Arabia will attend Trump\u2019s Manama summit<\/b>, which is being billed as an \u201ceconomic gathering to roll out the White House\u2019s Mideast peace plan, <b><a href=\"https:\/\/www.axios.com\/saudi-arabia-uae-attend-trumps-economic-workshop-78d3447f-6f5e-4319-a381-112ba154c867.html\">Axios<\/a><\/b> reports. The meeting will take place 25-26 June. <\/li>\n<\/ul><hr class=\"grey-line\"><p class=\"web-image\"><a href=\"https:\/\/www.ft.com\/content\/6c7bb28e-78a0-11e9-bbad-7c18c0ea0201\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/3432.jpg?ssl=1\"><\/a><\/p><p><b>No first-day pop? No worries:<\/b> The performance of a company\u2019s shares in its trading debut is rarely indicative of its future performance, <a href=\"https:\/\/www.ft.com\/content\/6c7bb28e-78a0-11e9-bbad-7c18c0ea0201\">analysis by the FT suggests<\/a>. The paper examined data from all US IPOs raising more than USD 1 bn since 2000 and found that first-day performance isn\u2019t a reliable gauge of a stock\u2019s lifetime performance. Facebook, for example, had an uninspired first day of trading but its market cap has since risen fivefold. Infineon meanwhile jumped 127% on debut but has since plunged to around half of its IPO price.<\/p><p><b>It\u2019s a big first day for: <\/b><a href=\"https:\/\/www.arabiancentres.com\/index\/en\/\"><b>KSA\u2019s Arabian Centres<\/b><\/a><b>, which is <\/b><a href=\"https:\/\/www.marketwatch.com\/story\/this-is-the-biggest-saudi-ipo-in-almost-five-years-and-the-first-to-allow-us-investors-to-put-money-in-directly-2019-05-20\"><b>scheduled<\/b><\/a><b> to make its debut on the Tadawul this morning<\/b> after <a href=\"https:\/\/www.ameinfo.com\/industry\/finance\/after-valuing-arabian-centres-at-dollar33bn-via-us-ipo-its-share-offering-to-start-tomorrow\">closing<\/a> the kingdom\u2019s third-largest IPO ever \u2014 and its <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-05-19\/goldman-sachs-to-test-saudi-rules-to-limit-stock-swings-post-ipo\">first with a stabilization mechanism<\/a> to support aftermarket performance. <b>Inktank Communications<\/b>, the region\u2019s leading <a href=\"http:\/\/inktankcommunications.com\/\">investor relations firm<\/a> and our parent company, is IR advisor to Arabian Centres.<\/p><p class=\"web-image\"><a href=\"https:\/\/www.wsj.com\/articles\/its-never-too-late-to-start-a-brilliant-career-11556896617?shareToken=st450d1f44b896479c8d6fce37d50b63b4&amp;mod=pkt05\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/1429.jpg?ssl=1\"><\/a><\/p><p><b>What We\u2019re Tracking Today, the Ramadan edition:<\/b><\/p><p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <b>MUST READ- <\/b><a href=\"https:\/\/www.wsj.com\/articles\/its-never-too-late-to-start-a-brilliant-career-11556896617?shareToken=st450d1f44b896479c8d6fce37d50b63b4&amp;mod=pkt05\"><b>It\u2019s never too late to start a brilliant career<\/b><\/a>, in the Wall Street Journal, which argues that \u201cour obsession with early achievement shortchanges people of all ages. Research shows that our brains keep developing deep into adulthood and so do our capabilities.\u201d <b>Creativity, innovation and lasting achievement are possible at every age<\/b>, argues the accomplished business journalist, author and late-bloomer Rich Karlgaard in a piece adapted from his book <a href=\"https:\/\/www.amazon.com\/Late-Bloomers-Patience-Obsessed-Achievement-ebook\/dp\/B07DMYZ4Q5\/\">Late Bloomers: The power of patience in a world obsessed with early achievement<\/a>. The piece is worth reading for this list alone:<\/p><ul>\n<li>Famous movie villain Alan Rickman owned a graphic design studio for years before he got his first taste of fame at 42 for his role as Hans Gruber in \u201cDie Hard\u201d;<\/li>\n<li>Tom Siebel founded his first big tech company, Siebel Systems, at 41, and his second, C3, at 57;<\/li>\n<li>International star Andrea Bocelli began singing opera when he was 34;<\/li>\n<li>Martha Stewart was 35 when she started her catering business in a friend\u2019s basement, and 42 when her first book of recipes was published.<\/li>\n<\/ul><p><b>A pre-iftar reading list to kill time<\/b> between your post-workout shower and the breaking of the fast:<\/p><ul>\n<li><a href=\"https:\/\/www.wsj.com\/articles\/ceos-share-their-most-helpful-and-unconventional-career-advice-11557503999\"><b>CEOs share their most helpful (and unconventional) career advice<\/b><\/a> should be required reading not just for fresh grads, but for the olds, too. Among the gems from CEOs of companies including Hyatt Hotels, Lyft, Clif Bar: <b>Empathy is the must-have skill<\/b> \u2014 and \u201cNo one likes a phony. Don\u2019t be a different person at work.\u201d (Wall Street Journal)<\/li>\n<li><a href=\"https:\/\/www.outsideonline.com\/2173721\/outside-guide-life-extension\"><b>8 Simple Tips to Live Longer and Healthier<\/b><\/a>, among them: Move, eat real foods, call your friends, skip the supplements, get eight hours of sleep a night, don\u2019t smoke and don\u2019t drink so much. (Outside magazine)<\/li>\n<li><b><a href=\"https:\/\/www.nytimes.com\/2019\/05\/19\/smarter-living\/let-go-of-your-grudges-theyre-doing-you-no-good.html\">Let go of your grudges. They\u2019re doing you no good<\/a><\/b>. They\u2019re bad for your brain, your blood pressure, your immune system\u2026 (New York Times)<\/li>\n<\/ul><p><b>Bankers: Ever fantasize about starting your own boutique firm? <\/b>You\u2019re not alone, as this short YouTube video from the Financial Times suggests (<a href=\"https:\/\/www.youtube.com\/watch?v=rp5pkrhOnwA&amp;feature=youtu.be\">watch, runtime: 1:59<\/a>). There\u2019s also <a href=\"https:\/\/bigdeal.ft.com\/videos\/rise-of-the-boutique-banks\/?utm_source=FT&amp;utm_medium=editorial_backfill\">a brief companion piece here<\/a> in the salmon-colored paper.<\/p><p><b>TECH PSA- Apple is making changes (again) to its MacBook butterfly keyboard<\/b> after user complaints of missed keystrokes and double-pressed keys. The change is part of a model upgrade that also brings eight-core processors to MacBook Pros for the first time. (<a href=\"https:\/\/9to5mac.com\/2019\/05\/21\/apple-announces-more-powerful-8-core-macbook-pro-with-updated-butterfly-keyboard-design\/\">9to5 Mac<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/apple-changes-macbook-butterfly-keyboard-after-user-complaints-11558458029\">WSJ<\/a>)<\/p><p><b>RAMADAN PSA-<\/b> Bank hours are at 9am-2pm for employees; doors are open from 9:30am until 1:30pm for customers. The trading day at the EGX runs 10:00am until 1:30pm.<\/p><p><b>So, when do we eat?<\/b> Maghrib is at 6:45pm CLT today in Cairo. You\u2019ll have until 3:16am tomorrow morning to caffeinate \/ finish your sohour.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/interest-rates\/\">interest rates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/monetary-policy\/\">monetary policy<\/a>\n              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href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/598339\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598339\" class=\"content-area-description single-story post-598339 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-enterprise-last-nights-talk-shows tag-enterpriseam wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>We\u2019re around halfway through the talking heads\u2019 annual Ramadan hiatus<\/b>. Check back after Eid for our daily roundup.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598340\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598340\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Speed Round<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/commercial-banks-could-see-capital-requirements-rise-tenfold-under-banking-act-amendments\/\">\r\n                            Commercial banks could see capital requirements rise tenfold under Banking Act amendments                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/commercial-banks-could-see-capital-requirements-rise-tenfold-under-banking-act-amendments\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Foreign banks operating in Egypt will see their capital requirements triple to USD 150 mn. Banks will have three years in which to raise the required capital.<\/p>\n<p><b>Is a wave of new M&As on the horizon?<\/b> \u201cWe\u2019re likely to see mergers and acquisitions for some small banks which are unable to raise capital,\u201d National Bank of Egypt Deputy Chairman Yehia Abouel Fotouh told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-05-21\/egypt-bank-mergers-on-cards-as-higher-capital-requirements-loom?srnd=premium-middle-east\">Bloomberg<\/a>. Listed banks, though, could meet the requirements \u201cthrough their retained earnings via stock-dividend distribution,\u201d Bloomberg quoted head of financials for MENA at Renaissance Capital Nancy Fahmy as saying. Fahmy also told Enterprise \u201cthat there are several options on the table, as some foreign banks could for example seek funding their capital increase form the parent bank. Higher capital requirements also opens room for sector consolidation.\u201d<\/p>\n<p><b>That industry development fund? It\u2019s back. <\/b>The draft law <a href=\"https:\/\/www.masrawy.com\/news\/news_economy\/details\/2019\/5\/21\/1571684\/%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D9%84%D8%AF%D8%B9%D9%85-%D9%88%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D8%A7%D9%84%D8%AC%D9%87%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%81%D9%8A-%D9%81%D9%8A-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF\">seen by Masrawy<\/a> confirmed plans to set up a development fund for the banking industry. Banks would reportedly pay a maximum of 1% of net profits towards the fund, a provision that stirred controversy it was first leaked back in 2017. <b>Look for pushback from publicly traded banks here: <\/b>The tithe is effectively a tax hike to endow a fund that publicly traded banks figure they can easily continue to do without.<\/p>\n<p><b>No terms limits for boards?<\/b> <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/21\/banking-act-to-impose-term-limits-on-board-members-at-state-owned-banks\/\">We noted yesterday<\/a> a report that the act would likely impose a three-term limit for board members of state-owned banks. That may not be the case after all: \u201cThe new draft law [does] not set certain number of terms for banks' officials, <b>including the heads of the banks<\/b> and board members,\u201d <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/331976\/Egypt\/Politics-\/Egypts-new-banking-bill-to-set-new-regulations-for.aspx\">Ahram Online<\/a> reports in a rundown on the MENA story. (The draft leaked in 2017 would have imposed term limits for bank managing directors.)<\/p>\n<p><b>Forex bureaus will also need to raise more capital:<\/b> Capital requirements for foreign exchange bureaus will rise fivefold to EGP 25 mn, <a href=\"https:\/\/www.masrawy.com\/news\/news_economy\/details\/2019\/5\/20\/1571435\/%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF-%D9%8A%D8%B1%D9%81%D8%B9-%D8%B1%D8%A3%D8%B3-%D9%85%D8%A7%D9%84-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%B1%D8%A7%D9%81%D8%A9-%D8%A5%D9%84%D9%89-25-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AC%D9%86%D9%8A%D9%87-\">according to Masrawy<\/a>. Newly-established bureaus would also be required to pay an EGP 100k licensing fee and EGP 50k for each subsequent branch.<\/p>\n<p><b>Where do we currently stand on the legislation? <\/b>The current draft has been with the Madbouly Cabinet for review since January and is <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/19\/what-were-tracking-on-19-may-2019\/\">due to be introduced<\/a> to the House of Representatives by the end of the month. If passed, the draft would not go into effect until it is signed into law by President Abdel Fattah El Sisi.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/banking\/\">banking<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/central-bank-of-egypt\/\">Central Bank of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/legislation\/\">legislation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/regulation\/\">regulation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598351\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598352\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598352\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">THE MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/\">\r\n                            OECD: trade disputes will keep global growth sluggish                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=OECD: trade disputes will keep global growth sluggish&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/&title=OECD: trade disputes will keep global growth sluggish\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=OECD%3A+trade+disputes+will+keep+global+growth+sluggish+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Foecd-trade-disputes-will-keep-global-growth-sluggish%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/3437.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"598353\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/oecd-trade-disputes-will-keep-global-growth-sluggish\/3437-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/3437.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3437.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/3437.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/3437.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598352\" class=\"content-area-description single-story post-598352 post type-post status-publish format-standard has-post-thumbnail hentry category-the-macro-picture tag-china tag-economy tag-enterpriseam tag-investment-watch tag-oecd tag-the-macro-picture tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>OECD: Trade disputes to hamper global growth: <\/b>Trade tensions have caused a global economic slowdown in the past year and threaten future growth, according to a report released yesterday <a href=\"https:\/\/www.oecd.org\/economy\/economic-outlook\/\">by the Organization for Economic Cooperation and Development<\/a> (OECD). Trade growth is predicted to weaken to around 2%, its lowest rate since the global financial crisis. Meanwhile, global GDP is predicted to fall to 3.2% this year from 3.5% in 2018, before rising to 3.4% in 2020.<\/p>\n<p><b>Where are the biggest threats to investment?<\/b> Prolonged trade restrictions between the US and China, weak capital goods production in the major OECD economies, policy uncertainty, shortages in skills, and poor infrastructure are all hindering global investment. The report <a href=\"https:\/\/www.wsj.com\/articles\/trade-disputes-are-weakening-future-growth-oecd-says-11558429231\">estimates<\/a> that business investment will fall as a result, growing at an average rate of only 1.75% in 2019 and 2020, compared to 3.5% in 2017 and 2018. Continued trade policy uncertainty is one major risk to investment, which in turn impacts jobs and living standards. In particular, the possibility that the US might impose restrictions in specific trade-sensitive sectors, such as the automobile industry, is sending ripples of anxiety to Europe and throughout the world, because of its potential impact on the value chain.<\/p>\n<p><b>How are emerging markets faring?<\/b> Financial conditions have stabilized for emerging markets, the report says, but we remain vulnerable to a decreasing risk appetite among investors. Policy recommendations from the OECD vary from economy to economy. Monetary policy tightening to retain investor confidence is recommended for Argentina and Turkey, where concerns persist about the sustainability of fiscal positions and the health of the banking sector. India and Mexico, however, have more scope for easing monetary policy as inflation declines, due to their flexible exchange rates and lower exposures to foreign currency-denominated debt.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/oecd\/\">OECD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598354\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598354\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON THE FRONT PAGES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-pushes-for-better-business-environment\/\">\r\n                            Egypt pushes for better business environment                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-pushes-for-better-business-environment\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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President Abdel Fattah El Sisi urged his government to make the best use of state resources, expedite efforts to implement financial inclusion, and upgrade the tax system for an improved business environment, the country\u2019s three main state-run newspapers tell us on their front pages this morning (<a href=\"http:\/\/www.ahram.org.eg\/News\/203023\/25\/710522\/%D8%A7%D9%84%D8%A3%D9%88%D9%84%D9%89\/%D8%AA%D8%AD%D9%82%D9%8A%D9%82-%D9%85%D8%A8%D8%AF%D8%A3-%C2%AB%D8%A7%D9%84%D8%AD%D9%88%D9%83%D9%85%D8%A9%C2%BB-%D9%88%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D9%85%D9%88%D8%A7%D8%B1%D8%AF-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D9%86%D8%AD%D9%88.aspx\">Al Ahram<\/a> | <a href=\"https:\/\/www.pressreader.com\/egypt\/al-akhbar\">Al Akhbar<\/a> | <a href=\"http:\/\/www.algomhuria.net.eg\/algomhuria\/today\/fpage\/\">Al Gomhuria<\/a>).<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-inclusion\/\">financial inclusion<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-front-pages\/\">On The Front Pages<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tax\/\">tax<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598355\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598355\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Worth reading<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/\">\r\n                            Startups are fuelling a \u2018dark kitchen\u2019 industry                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Startups are fuelling a \u2018dark kitchen\u2019 industry&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/&title=Startups are fuelling a \u2018dark kitchen\u2019 industry\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Startups+are+fuelling+a+%E2%80%98dark+kitchen%E2%80%99+industry+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Fstartups-are-fuelling-a-dark-kitchen-industry%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/2812.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"598356\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/startups-are-fuelling-a-dark-kitchen-industry\/2812-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/2812.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2812.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/2812.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2019\/5\/2812.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598355\" class=\"content-area-description single-story post-598355 post type-post status-publish format-standard has-post-thumbnail hentry category-worth-reading tag-enterpriseam tag-entrepreneurship tag-food tag-investment-watch tag-startups tag-worth-reading wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <b>Startups are fueling a \u2018dark kitchen\u2019 industry:<\/b> Venture capitalists and startups are putting significant money and time into establishing so-called \u2018dark kitchens,\u2019 which only serve delivery customers, <a href=\"https:\/\/www.ft.com\/content\/a66619b0-77e4-11e9-be7d-6d846537acab\">Tim Bradshaw writes in the FT<\/a>. With the increasing demand for food delivery services resulting in the proliferation of companies like UberEats and Deliveroo, investors are now shifting their focus to look at how to make the supply side of the equation more efficient.<\/p>\n<p><b>Different startups take very different approaches.<\/b> Some, like <a href=\"https:\/\/www.karmakitchen.co\/\">Karma Kitchen<\/a>, set up and hire out kitchens, partnering with other startups, like <a href=\"https:\/\/www.kitopi.com\/\">KitOpi<\/a>, that actually make and deliver the food. Others, like<a href=\"https:\/\/www.taster.com\/\">Taster<\/a>, identify areas of unmet demand and use algorithms to forecast sales, then rent kitchen space from somewhere like Karma Kitchen to prepare and deliver orders in lightning-fast time. Still others, including Deliveroo, have started preparing food in converted shipping containers in car parks, saving on space, manpower and overhead costs, and maximizing efficiency. The market potential seems huge, with investors like SoftBank having acquired a stake in <a href=\"https:\/\/www.parkjockey.com\/\">ParkJockey<\/a>, a Miami-based start-up that has been experimenting with car-park kitchens since 2016, and is currently valued at over USD 1 bn.<\/p>\n<p><b>This trend seems made for the Egyptian market.<\/b> Delivery culture here is huge, with <a href=\"https:\/\/www.wamda.com\/2016\/01\/egypts-next-meal-ticket-in-tech\">Egypt<\/a> being the first country in the region to set up a delivery website, Otlob, in 1999. Although <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/18\/kuwaits-food-delivery-platform-carriage-launches-in-egypt\/\">there has been talk<\/a> of the market being saturated, it continues to grow, with delivery platforms like Carriage and UberEats having recently entered the space. Add to this the growth of <a href=\"http:\/\/www.qubixstudios.com\/products.php\">Qubix<\/a> \u2014 already manufacturing the portable restaurants you see in Sahel every summer out of shipping containers \u2014 and the rapid growth of Egypt\u2019s startup sector as a whole, all the key ingredients appear to be here for this idea to take off. Watch this space.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/entrepreneurship\/\">entrepreneurship<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/food\/\">food<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/worth-reading\/\">worth reading<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598357\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598357\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Diplomacy + Foreign Trade<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/us-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports\/\">\r\n                            US Office of Agricultural Affairs criticizes Egypt\u2019 decision to reduce US halal meat imports                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/us-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/us-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/us-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=US Office of Agricultural Affairs criticizes Egypt\u2019 decision to reduce US halal meat imports&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/us-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/us-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports\/&title=US Office of Agricultural Affairs criticizes Egypt\u2019 decision to reduce US halal meat imports\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=US+Office+of+Agricultural+Affairs+criticizes+Egypt%E2%80%99+decision+to+reduce+US+halal+meat+imports+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Fus-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/us-office-of-agricultural-affairs-criticizes-egypt-decision-to-reduce-us-halal-meat-imports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598357\" class=\"content-area-description single-story post-598357 post type-post status-publish format-standard hentry category-diplomacy-foreign-trade tag-diplomacy-foreign-trade tag-enterpriseam tag-halal-meat tag-us wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><b>The US embassy\u2019s Office of Agricultural Affairs has criticized a decision by the Egyptian authorities to reduce the number of halal meat accreditation centers<\/b> for imports of US meat from eight centers to just one, the <a href=\"https:\/\/www.alborsaanews.com\/2019\/05\/21\/1205949\">local press reports<\/a>. The office said that the decision would disrupt the market, cause confusion among traders, and lead to an increase in the price of accreditation and consequently imported meat prices.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/diplomacy-foreign-trade\/\">Diplomacy + Foreign Trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/halal-meat\/\">Halal Meat<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/us\/\">US<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598358\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598358\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">Infrastructure<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/ida-to-tender-13-industrial-complexes-through-april-2020\/\">\r\n                            IDA to tender 13 industrial complexes through April 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/ida-to-tender-13-industrial-complexes-through-april-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/ida-to-tender-13-industrial-complexes-through-april-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/ida-to-tender-13-industrial-complexes-through-april-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=IDA to tender 13 industrial complexes through April 2020&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/ida-to-tender-13-industrial-complexes-through-april-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/ida-to-tender-13-industrial-complexes-through-april-2020\/&title=IDA to tender 13 industrial complexes through April 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=IDA+to+tender+13+industrial+complexes+through+April+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Fida-to-tender-13-industrial-complexes-through-april-2020%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/ida-to-tender-13-industrial-complexes-through-april-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598358\" class=\"content-area-description single-story post-598358 post type-post status-publish format-standard hentry category-infrastructure tag-enterpriseam tag-industrial-development-authority tag-industry tag-infrastructure tag-infrastructure-watch wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>The Industrial Development Authority (IDA) is planning to tender 13 industrial complexes to investors between 30 June of this year and April 2020, <a href=\"https:\/\/www.alborsaanews.com\/2019\/05\/21\/1206583\">according to the local press<\/a>. The complexes will be spread across 12 governorates, seven of which are in Upper Egypt. Prime Minister Moustafa Madbouly had issued instructions earlier this week for the government to speed up the allocation of industrial land to investors as part of a strategy to promote and develop industrial activity across the country.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industrial-development-authority\/\">Industrial Development Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure-watch\/\">infrastructure watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598359\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598359\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">Tourism<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/giza-attack-a-setback-for-egyptian-tourism-aito-chairman\/\">\r\n                            Giza attack \u201ca setback\u201d for Egyptian tourism: AITO chairman                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/giza-attack-a-setback-for-egyptian-tourism-aito-chairman\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/giza-attack-a-setback-for-egyptian-tourism-aito-chairman\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/giza-attack-a-setback-for-egyptian-tourism-aito-chairman\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Giza attack \u201ca setback\u201d for Egyptian tourism: AITO chairman&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/giza-attack-a-setback-for-egyptian-tourism-aito-chairman\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/giza-attack-a-setback-for-egyptian-tourism-aito-chairman\/&title=Giza attack \u201ca setback\u201d for Egyptian tourism: AITO chairman\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Giza+attack+%E2%80%9Ca+setback%E2%80%9D+for+Egyptian+tourism%3A+AITO+chairman+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Fgiza-attack-a-setback-for-egyptian-tourism-aito-chairman%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/giza-attack-a-setback-for-egyptian-tourism-aito-chairman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598359\" class=\"content-area-description single-story post-598359 post type-post status-publish format-standard hentry category-tourism tag-enterpriseam tag-terrorism tag-tourism wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Sunday\u2019s terrorist attack in Giza is \u201ca setback\u201d for tourism in Egypt, Chairman of the Association of Independent Tour Operators (<a href=\"https:\/\/www.aito.com\/\">AITO<\/a>) Derek Moore said, according to <a href=\"https:\/\/www.ttgmedia.com\/news\/news\/giza-attack-no-doubt-a-setback-for-egypt-says-aito-boss-18093\">TTG Media<\/a>. Moore stressed, however, his confidence that Egyptian authorities were doing everything possible to reduce the likelihood of repeat incidents. \u201cThe truth is, we think, the public has become more aware of the statistically very low chances of being involved in such an incident,\u201d he added. AITO is a UK-based tourism trade group representing 120 independent tour companies, 12 of which currently organize trips and holidays in Egypt.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/terrorism\/\">terrorism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tourism\/\">tourism<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598360\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598360\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">Automotive + Transportation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/revolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020\/\">\r\n                            Revolta Egypt to install EGP 100 mn-worth electric car charging stations by 2020                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/revolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/revolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/revolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Revolta Egypt to install EGP 100 mn-worth electric car charging stations by 2020&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/revolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/revolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020\/&title=Revolta Egypt to install EGP 100 mn-worth electric car charging stations by 2020\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Revolta+Egypt+to+install+EGP+100+mn-worth+electric+car+charging+stations+by+2020+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Frevolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/revolta-egypt-to-install-egp-100-mn-worth-electric-car-charging-stations-by-2020\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598360\" class=\"content-area-description single-story post-598360 post type-post status-publish format-standard hentry category-automotive-transportation tag-automotive tag-automotive-transportation tag-energy tag-enterpriseam tag-infrastructure wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Revolta Egypt is planning to install EGP 100 mn-worth of electric vehicle charging docks by the end of 2020, CEO Mohamed Badawy said, <a href=\"https:\/\/www.alborsaanews.com\/2019\/05\/21\/1206269\">according to local press reports<\/a>. This will increase the number of docks the company operates to 345, from a current 130.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive\/\">automotive<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/automotive-transportation\/\">Automotive + Transportation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598362\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598362\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/div>\r\n\r\n                    <p class=\"f-graphik\">Other Business News of Note<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/telecom-egypt-wants-to-get-into-the-real-estate-business\/\">\r\n                            Telecom Egypt wants to get into the real estate business                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/telecom-egypt-wants-to-get-into-the-real-estate-business\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/telecom-egypt-wants-to-get-into-the-real-estate-business\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/telecom-egypt-wants-to-get-into-the-real-estate-business\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Telecom Egypt wants to get into the real estate business&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/telecom-egypt-wants-to-get-into-the-real-estate-business\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/telecom-egypt-wants-to-get-into-the-real-estate-business\/&title=Telecom Egypt wants to get into the real estate business\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Telecom+Egypt+wants+to+get+into+the+real+estate+business+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Ftelecom-egypt-wants-to-get-into-the-real-estate-business%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/telecom-egypt-wants-to-get-into-the-real-estate-business\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598362\" class=\"content-area-description single-story post-598362 post type-post status-publish format-standard hentry category-other-business-news-of-note tag-cit tag-development tag-enterpriseam tag-other-business-news-of-note wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Telecom Egypt WE is planning to set up a real estate arm once a firm it has contracted completes a study of the company\u2019s land portfolio, <a href=\"https:\/\/www.youm7.com\/story\/2019\/5\/21\/%D8%B1%D8%A6%D9%8A%D8%B3-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%84%D9%84%D8%A7%D8%AA%D8%B5%D8%A7%D9%84%D8%A7%D8%AA-%D8%A5%D8%B7%D9%84%D8%A7%D9%82-%D8%B4%D8%B1%D9%83%D8%A9-%D8%B9%D9%82%D8%A7%D8%B1%D9%8A%D8%A9-%D8%A8%D8%B9%D8%AF-%D8%AA%D9%82%D9%8A%D9%8A%D9%85-%D9%85%D8%AD%D9%81%D8%B8%D8%A9-%D8%A7%D9%84%D8%A3%D8%B1%D8%B6%D9%89\/4251450\">CEO Adel Hamed told Youm7<\/a>. When last evaluated in 2005, the state-owned landline monopoly\u2019s land portfolio was worth EGP 2 bn, Hamed said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cit\/\">CIT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/development\/\">development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/other-business-news-of-note\/\">Other Business News of Note<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598363\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598363\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">12<\/div>\r\n\r\n                    <p class=\"f-graphik\">National Security<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-and-france-conduct-joint-naval-drill-in-mediterranean-2\/\">\r\n                            Egypt and France conduct joint naval drill in Mediterranean                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-and-france-conduct-joint-naval-drill-in-mediterranean-2\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-and-france-conduct-joint-naval-drill-in-mediterranean-2\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-and-france-conduct-joint-naval-drill-in-mediterranean-2\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt and France conduct joint naval drill in Mediterranean&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-and-france-conduct-joint-naval-drill-in-mediterranean-2\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-and-france-conduct-joint-naval-drill-in-mediterranean-2\/&title=Egypt and France conduct joint naval drill in Mediterranean\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+and+France+conduct+joint+naval+drill+in+Mediterranean+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Fegypt-and-france-conduct-joint-naval-drill-in-mediterranean-2%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypt-and-france-conduct-joint-naval-drill-in-mediterranean-2\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598363\" class=\"content-area-description single-story post-598363 post type-post status-publish format-standard hentry category-national-security tag-enterpriseam tag-france tag-national-security wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>Egyptian and French naval forces held a joint drill in the Mediterranean Sea, as part of efforts to boost military cooperation, the Armed Forces <a href=\"https:\/\/www.facebook.com\/EgyArmySpox\/posts\/1591992580931718\">said in a statement<\/a>. The drill included trainings to counter hostile attacks, airstrikes, and atypical threats, as well as inspection methods of suspected vessels, the statement said.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/national-security\/\">national security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598364\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598364\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">13<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/aucs-mun-delegation-earns-record-number-of-awards-at-annual-new-york-conference\/\">\r\n                            AUC\u2019s MUN delegation earns record number of awards at annual New York conference                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/aucs-mun-delegation-earns-record-number-of-awards-at-annual-new-york-conference\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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This is the highest number of awards for a single delegation in CIMUN\u2019s history, and marks the tenth consecutive year for CIMUN to snag the Outstanding Delegation title.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/education\/\">Education<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/un\/\">UN<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598365\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"598365\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">14<\/div>\r\n\r\n                    <p class=\"f-graphik\">The Market Yesterday<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/the-market-yesterday-355\/\">\r\n                            The Market Yesterday                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/the-market-yesterday-355\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/the-market-yesterday-355\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/the-market-yesterday-355\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The Market Yesterday&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/the-market-yesterday-355\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/the-market-yesterday-355\/&title=The Market Yesterday\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+Market+Yesterday+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2019%2F05%2F22%2Fthe-market-yesterday-355%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/the-market-yesterday-355\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598365\" class=\"content-area-description single-story post-598365 post type-post status-publish format-standard hentry category-the-market-yesterday tag-enterpriseam tag-the-market-yesterday wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><p><b>EGP \/ USD CBE market average: <\/b>Buy 16.97 | Sell 17.07<b><\/p>\n<p> EGP \/ USD at CIB:<\/b> Buy 16.96 | Sell 17.06<\/p>\n<p> <b>EGP \/ USD at NBE: <\/b>Buy 16.97 | Sell 17.07<\/p>\n<p><b>EGX30<\/b> (Tuesday): 13,614 (+1.8%)<\/p>\n<p> <b>Turnover:<\/b> EGP 544 mn (32% below the 90-day average)<\/p>\n<p> <b>EGX 30 year-to-date<\/b>: +4.4%<\/p>\n<p><b>THE MARKET ON TUESDAY:<\/b> The EGX30 ended Tuesday\u2019s session up 1.8%. CIB, the index heaviest constituent ended up 1.4%. EGX30\u2019s top performing constituents were AMOC up 7.0%, and Sarwa Capital Holding up 6.4%, and Arabia Investments Holding up 5.0%. Yesterday\u2019s Thursday\u2019s worst performing stocks were CIRA down 6.0% and EFG Hermes down 0.3%. The market turnover was EGP 544 mn, and foreign investors were the sole net sellers.<\/p>\n<p><b>Foreigners<\/b>: Net Short | EGP -34.6 mn<\/p>\n<p> <b>Regional<\/b>: Net Long | EGP +17.0 mn<\/p>\n<p> <b>Domestic<\/b>: Net Long | EGP +17.6 mn<\/p>\n<p><b>Retail<\/b>: 42.4% of total trades | 43.2% of buyers | 41.6% of sellers<\/p>\n<p> <b>Institutions<\/b>: 57.6% of total trades | 56.8% of buyers | 58.4% of sellers<\/p>\n<p><b>WTI:<\/b> USD 62.99 (-0.17%)<\/p>\n<p> <b>Brent:<\/b> USD 72.18 (+0.29%)<\/p>\n<p><b>Natural Gas<\/b> (Nymex, futures prices) USD 2.62 MMBtu, (+0.34%, JUNE 2019 contract)<\/p>\n<p> <b>Gold:<\/b> USD 1,274.10 \/ troy ounce (+0.07%)<\/p>\n<p><b>TASI:<\/b> 8,609.35 (+1.66%) (YTD: +10.00%)<\/p>\n<p> <b>ADX:<\/b> 4,782.48 (+1.05%) (YTD: -2.70%)<\/p>\n<p> <b>DFM:<\/b> 2,539.24 (+1.04%) (YTD: +0.38%)<\/p>\n<p> <b>KSE Premier Market:<\/b> 6,058.34 (+0.85%)<\/p>\n<p> <b>QE:<\/b> 9,700.77 (-2.00%) (YTD: -5.81%)<\/p>\n<p> <b>MSM:<\/b> 3,842.47 (-0.06%) (YTD: -11.13%)<\/p>\n<p> <b>BB: <\/b>1,409.43 (+0.93%) (YTD: +5.40%)<\/p><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/the-market-yesterday\/\">The Market Yesterday<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"598366\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/598366\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-598366\" class=\"content-area-description single-story post-598366 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p>May: 50 Egyptian companies are set to <a href=\"https:\/\/www.elwatannews.com\/news\/details\/4078286\">visit Libya<\/a> to discuss trade, investment and reconstruction.<\/p>\n<p>23 May (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee will meet to review interest rates.<\/p>\n<p>27-28 May (Monday-Tuesday): UK International Trade Secretary Liam Fox <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/331747\/Business\/Economy\/UK-int%E2%80%99l-trade-secretary-to-visit-Egypt-late-May.aspx\">will visit Egypt<\/a> for meetings with senior officials on boosting bilateral trade and investments.<\/p>\n<p>28 May (Tuesday): 30 Saudi stocks join the MSCI Emerging Markets Index at the end of the day\u2019s trading session.<\/p>\n<p>28 May (Tuesday): AmCham AGM and iftar.<\/p>\n<p>1H2019 (date TBD): Investment Minister Sahar Nasr <a href=\"https:\/\/www.almalnews.com\/Story\/414224\/15\/-%D8%B3%D9%81%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D9%83%D8%B3%D9%8A%D9%83-%D8%A8%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9--%D9%88%D9%81%D8%AF-%D9%85%D8%B5%D8%B1%D9%89-%D9%81%D9%89-%C2%AB%D9%85%D9%83%D8%B3%D9%8A%D9%83%D9%88-%D8%B3%D9%8A%D8%AA%D9%89%C2%BB-%D9%85%D9%86%D8%AA\">will head a delegation<\/a> of businessmen into Mexico City to explore cooperation avenues with the Latin American country.<\/p>\n<p>June: International Forum for small and medium enterprises (SMEs).<\/p>\n<p>June: Egypt will host the first economic forum for <a href=\"https:\/\/ufmsecretariat.org\/who-we-are\/\">Union for the Mediterranean<\/a> (UfM) countries to <a href=\"http:\/\/enterprise.press\/wp-content\/uploads\/2019\/04\/MIIT-PR-Egypt-med-union-forum.pdf\">promote trade and investment<\/a> in the 43 member states.<\/p>\n<p>June: President Abdel Fattah El Sisi to attend <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/1\/64\/330409\/Egypt\/Politics-\/Egypts-Sisi-invited-to-USAfrica-Business-Summit-in.aspx\">US-Africa Business summit<\/a> in Mozambique.<\/p>\n<p>3-5 June (Tuesday-Wednesday): <a href=\"https:\/\/www.ges2019.org\/\">Global Entrepreneurship Summit<\/a>, The Hague, the Netherlands<\/p>\n<p>5-6 June (Wednesday-Thursday): Eid El Fitr (TBC).<\/p>\n<p>11-12 June (Tuesday-Wednesday): <a href=\"http:\/\/www.szwgroup.com\/offshore-mena-congress-2019\/\">Offshore Congress MENA<\/a>, InterContinental Semiramis, Cairo.<\/p>\n<p>16-17 June (Sunday-Monday): Mega Projects Conference, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>16-18 June (Sunday-Tuesday): Middle East & Africa Rail Show, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>17-18 June (Monday-Tuesday): <a href=\"https:\/\/www.terrapinn.com\/exhibition\/seamless-north-africa\/index.stm\">Seamless North Africa<\/a>, Nile Ritz-Carlton, Cairo.<\/p>\n<p>17-19 June (Monday-Wednesday): <a href=\"http:\/\/platforms-root-technologies.com\/ctw\/\">Cairo Technology Week<\/a>, Hilton Heliopolis, Cairo.<\/p>\n<p>18-19 June (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>19-20 June (Wednesday-Thursday): <a href=\"https:\/\/www.pharosholding.com\/pharosinvestorconference2019\/#About_the_Conference\">Pharos Holding Annual Investor Conference<\/a>, El Gouna, Egypt.<\/p>\n<p>23 June (Sunday): <a href=\"http:\/\/www.almalnews.com\/Story\/413580\/11\/%D8%AA%D8%A3%D8%AC%D9%8A%D9%84-%D9%86%D8%B8%D8%B1-%D8%AF%D8%B9%D9%88%D9%89-%D8%B6%D8%AF-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%AA%D9%8A-%D8%A8%D9%88%D8%B1%D8%AA%D9%88-%D9%88%D8%B9%D8%A7%D9%85%D8%B1-%D8%AC%D8%B1%D9%88%D8%A8-%D8%A5%D9%84%D9%89-23-%D9%8A%D9%88%D9%86%D9%8A\">Cairo Arbitration Court hearing<\/a> for Amer Group vs. Antaradous for Touristic Development.<\/p>\n<p>25-26 June (Tuesday-Wednesday): <a href=\"https:\/\/www.opec.org\/opec_web\/en\/311.htm\">OPEC conference, OPEC and non-OPEC ministerial meeting<\/a>, Vienna, Austria.<\/p>\n<p>28-29 June (Friday-Saturday): <a href=\"https:\/\/www.japan.go.jp\/g20japan\/\">G20 Global Economic Summit<\/a>, Osaka, Japan.<\/p>\n<p>30 June (Sunday): June 2013 protests anniversary, national holiday.<\/p>\n<p>July: Customs officials from Egypt and the US will sit down to discuss \u201c<a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=13042019&id=cfde9b1a-02c8-4a68-9157-558560dedc3a\">procedural and administrative matters<\/a>\u201d as part of the <a href=\"https:\/\/ustr.gov\/sites\/default\/files\/U.S.%20-%20Egypt%20TIFA.pdf\">Trade and Investment Framework Agreements (TIFA)<\/a>.<\/p>\n<p>11 July (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/p>\n<p>19-21 July (Friday-Sunday): <a href=\"http:\/\/ledmiddleeast-expo.com\/\">LED Middle East Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>23 July (Tuesday): 23 July revolution anniversary, national holiday.<\/p>\n<p>30-31 July (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>7-11 August (Wednesday-Sunday) Eid El Adha (TBC).<\/p>\n<p>22 August (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/p>\n<p>29 August (Thursday): Islamic New Year (TBC), national holiday.<\/p>\n<p>2-4 September (Monday-Wednesday): <a href=\"https:\/\/www.thebig5constructegypt.com\/\">The Big 5 Construct Egypt<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>8-11 September (Sunday-Wednesday): <a href=\"https:\/\/www.saharaexpo.com\/en\/home.html\">Sahara Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>9-12 September (Monday-Thursday): The 9th Annual EFG Hermes London Conference, Arsenal Emirates Stadium, London.<\/p>\n<p>17-18 September (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>26 September (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/p>\n<p>6 October (Sunday): Armed Forces Day, national holiday.<\/p>\n<p>10-13 October (Tuesday-Sunday): <a href=\"http:\/\/biwarabia.com\/en\/\">Big Industrial Week Arabia 2019<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>23-24 October (Wednesday-Thursday): <a href=\"http:\/\/platforms-root-technologies.com\/icec-2019\/\">Intelligent Cities Exhibition & Conference<\/a>, Hilton Heliopolis, Cairo.<\/p>\n<p>23 October-1 November (Wednesday-Friday): CIB PSA Women\u2019s World Championship, Great Pyramid of Giza, Cairo.<\/p>\n<p>28 October-22 November (Monday-Friday): <a href=\"https:\/\/www.itu.int\/en\/ITU-R\/conferences\/wrc\/2019\/Pages\/default.aspx\">World Radiocommunication Conference 2019<\/a>, Sharm El Sheikh, Egypt.<\/p>\n<p>29-30 October (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>3-5 November (Sunday-Tuesday): <a href=\"https:\/\/www.electricxegypt.com\/en\/Homepage.html\">Electrix 2019<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>9 November (Saturday): Prophet Mohammed's birthday, national holiday.<\/p>\n<p>10-14 November (Sunday-Thursday): <a href=\"https:\/\/geomeast.org\/\">GeoMEast International Congress and Exhibition<\/a>, Marriott, Cairo.<\/p>\n<p>14-17 November (Thursday-Sunday): <a href=\"http:\/\/www.mactech.com.eg\/\">Machtech Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>14-17 November (Thursday-Sunday): <a href=\"http:\/\/www.transpotech-eg.com\/\">Transpotech Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>14-17 November (Thursday-Sunday): <a href=\"http:\/\/www.airtech-eg.com\/\">Airtech Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>November: Suez Canal Conference for Investment, organized in cooperation with the <a href=\"https:\/\/www.youm7.com\/story\/2019\/5\/21\/%D8%B3%D9%81%D9%8A%D8%B1-%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF-%D8%A7%D9%84%D8%A3%D9%88%D8%B1%D9%88%D8%A8%D9%89-%D9%86%D9%86%D8%B8%D9%85-%D9%85%D8%B9-%D9%85%D8%B5%D8%B1-%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1\/4251626\">European Union<\/a><\/p>\n<p>December: Egypt <a href=\"https:\/\/www.almalnews.com\/Story\/402348\/14\/-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D8%B6%D9%8A%D9%81-%D9%85%D8%B9%D8%B1%D8%B6--%D8%A8%D8%A7%D9%83-%D8%A8%D8%B1%D9%88%D8%B3%D9%8A%D8%B3--%D8%A7%D9%84%D8%B9%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84-\">will host for the first time<\/a> the Pack Process trade expo for the Middle East and African region.<\/p>\n<p>3-6 December (Tuesday-Friday): <a href=\"http:\/\/www.cairowoodshow.com\/\">Cairo WoodShow<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>9-11 December (Monday-Wednesday): <a href=\"http:\/\/www.pacprocess-mea.com\/\">Pacprocess Middle East Africa<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>9-11 December (Monday-Wednesday): <a href=\"http:\/\/www.foodafrica-expo.com\/\">Food Africa 2019 Expo<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>10-11 December (Tuesday-Wednesday): US Federal Open Market Committee will hold its two-day policy meeting to review the interest rate.<\/p>\n<p>26 December (Thursday): Central Bank of Egypt\u2019s monetary policy committee will meet to review interest rates.<\/p>\n<p>9-12 January 2020 (Tuesday-Sunday): <a href=\"http:\/\/www.plastex-online.com\/\">PLASTEX<\/a>, Egypt International Exhibition Center, Nasr City, Cairo.<\/p>\n<p>25 January 2020 (Saturday): 25 January revolution anniversary \/ Police Day, national holiday.<\/p>\n<p>11-13 February 2020 (Tuesday-Thursday): <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a>, Egypt International<\/p>\n<p>Exhibition Center, Nasr City, Cairo.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":598336,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-598335","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"30db7e31-6a01-45dc-b7ba-e7bc1931eda3","teaser":"","photo_url":"https:\/\/ent.news\/2019\/5\/24853155542_eee696bdce_o.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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